Austin had a breakout season last year. He went on to earn a spot in the Pro Bowl after finishing the season with 81 catches for 1,320 yards, sixth-best in team history and the sixth-best by any undrafted receiver ever in the NFL.

"He's going to be around here a long time," Cowboys vice president Stephen Jones told ESPN.

The NFL receiver added that he was excited about the deal, and that Dallas is where he wants to be.

"My career started here, you guys gave me a shot and obviously I put my all out there every day," said Austin. "It feels great to be wanted by this team because I want to be here."

In his first career start last October at Kansas City, Austin had 10 catches for a team-record 250 yards and two late touchdowns, including the 60-yard game winner in overtime. He broke the single-game yardage record held by Hall of Fame receiver "Bullet Bob" Hayes since 1966.

He hails from the tiny Monmouth College in New Jersey, and many didn't expect him to be a breakout player. But now that he's shown what he can do, the Cowboys say they don't expect him to be a one-year fluke.

"We all are familiar and admire the way Miles has evolved into the player he is today. We're also very impressed with the person that he is," Cowboys vice president Stephen Jones told ESPN. "I've never felt like when we have made this kind of commitment to any individual that we've ever been as prepared or better informed about what he is as a player and as a person. That's a good feeling and made this very comfortable in terms of getting this done.